An auditor may rely on a specialist when assessing the value of a company's inventory.

Name: An auditor may rely on a specialist when assessing the value of a company's inventory.
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Question

Quizplus · Accepted Answer

Yes, an auditor may rely on a specialist such as a certified appraiser when evaluating the value of a company's inventory. This is allowed under Generally Accepted Auditing Standards (GAAS), as long as the auditor determines that the specialist is qualified and independent.

An Auditor May Rely on a Specialist When Assessing the Value